$MNTX
Manitex International, Inc.

2012 Q3 Form 10-Q Financial Statement

#000119312512462578 Filed on November 09, 2012

View on sec.gov

Income Statement

Concept 2012 Q3 2011 Q3
Revenue $53.38M $36.94M
YoY Change 44.5% 48.36%
Cost Of Revenue $42.57M $29.12M
YoY Change 46.2% 53.25%
Gross Profit $10.81M $7.824M
YoY Change 38.16% 32.61%
Gross Profit Margin 20.25% 21.18%
Selling, General & Admin $5.742M $5.149M
YoY Change 11.52% 28.73%
% of Gross Profit 53.12% 65.81%
Research & Development $601.0K $442.0K
YoY Change 35.97% 47.33%
% of Gross Profit 5.56% 5.65%
Depreciation & Amortization $880.0K $920.0K
YoY Change -4.35% 17.95%
% of Gross Profit 8.14% 11.76%
Operating Expenses $6.343M $5.591M
YoY Change 13.45% 27.07%
Operating Profit $4.467M $2.233M
YoY Change 100.04% 48.87%
Interest Expense $578.0K $653.0K
YoY Change -11.49% -230.6%
% of Operating Profit 12.94% 29.24%
Other Income/Expense, Net -$650.0K -$667.0K
YoY Change -2.55%
Pretax Income $3.817M $1.566M
YoY Change 143.74% 56.6%
Income Tax $1.313M $546.0K
% Of Pretax Income 34.4% 34.87%
Net Earnings $2.504M $1.020M
YoY Change 145.49% 45.71%
Net Earnings / Revenue 4.69% 2.76%
Basic Earnings Per Share $0.21 $0.09
Diluted Earnings Per Share $0.21 $0.09
COMMON SHARES
Basic Shares Outstanding 12.14M shares 11.41M shares
Diluted Shares Outstanding 12.15M shares 11.45M shares

Balance Sheet

Concept 2012 Q3 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.300M $800.0K
YoY Change 312.5% 300.0%
Cash & Equivalents $3.305M $773.0K
Short-Term Investments
Other Short-Term Assets $3.400M $2.100M
YoY Change 61.9% 40.0%
Inventory $60.51M $38.70M
Prepaid Expenses
Receivables $33.09M $22.80M
Other Receivables $2.800M $1.800M
Total Short-Term Assets $103.5M $66.20M
YoY Change 56.27% 39.37%
LONG-TERM ASSETS
Property, Plant & Equipment $10.27M $11.30M
YoY Change -9.09% 2.73%
Goodwill $15.27M
YoY Change
Intangibles $18.59M
YoY Change
Long-Term Investments
YoY Change
Other Assets $134.0K $4.400M
YoY Change -96.95% -25.42%
Total Long-Term Assets $45.99M $51.80M
YoY Change -11.22% -0.58%
TOTAL ASSETS
Total Short-Term Assets $103.5M $66.20M
Total Long-Term Assets $45.99M $51.80M
Total Assets $149.4M $118.0M
YoY Change 26.64% 18.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $29.57M $16.80M
YoY Change 75.99% 52.73%
Accrued Expenses $6.091M $4.200M
YoY Change 45.02% 23.53%
Deferred Revenue
YoY Change
Short-Term Debt $6.900M $4.900M
YoY Change 40.82% 96.0%
Long-Term Debt Due $1.100M $600.0K
YoY Change 83.33% 0.0%
Total Short-Term Liabilities $44.66M $27.00M
YoY Change 65.39% 50.84%
LONG-TERM LIABILITIES
Long-Term Debt $39.50M $37.60M
YoY Change 5.05% 22.48%
Other Long-Term Liabilities $1.120M $2.700M
YoY Change -58.52% -12.9%
Total Long-Term Liabilities $47.57M $40.30M
YoY Change 18.05% 19.23%
TOTAL LIABILITIES
Total Short-Term Liabilities $44.66M $27.00M
Total Long-Term Liabilities $47.57M $40.30M
Total Liabilities $92.23M $72.80M
YoY Change 26.69% 26.39%
SHAREHOLDERS EQUITY
Retained Earnings $2.664M
YoY Change
Common Stock $52.76M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $57.21M $45.20M
YoY Change
Total Liabilities & Shareholders Equity $149.4M $118.0M
YoY Change 26.64% 18.47%

Cashflow Statement

Concept 2012 Q3 2011 Q3
OPERATING ACTIVITIES
Net Income $2.504M $1.020M
YoY Change 145.49% 45.71%
Depreciation, Depletion And Amortization $880.0K $920.0K
YoY Change -4.35% 17.95%
Cash From Operating Activities $1.380M $450.0K
YoY Change 206.67% 87.5%
INVESTING ACTIVITIES
Capital Expenditures -$340.0K -$1.690M
YoY Change -79.88% 525.93%
Acquisitions
YoY Change
Other Investing Activities $50.00K $290.0K
YoY Change -82.76%
Cash From Investing Activities -$290.0K -$1.390M
YoY Change -79.14% 434.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $3.781M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 280.0K 1.060M
YoY Change -73.58% -176.81%
NET CHANGE
Cash From Operating Activities 1.380M 450.0K
Cash From Investing Activities -290.0K -1.390M
Cash From Financing Activities 280.0K 1.060M
Net Change In Cash 1.370M 120.0K
YoY Change 1041.67% -108.57%
FREE CASH FLOW
Cash From Operating Activities $1.380M $450.0K
Capital Expenditures -$340.0K -$1.690M
Free Cash Flow $1.720M $2.140M
YoY Change -19.63% 319.61%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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dei Document Fiscal Period Focus
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dei Document Type
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10-Q
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2012-09-30
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0001302028
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Manitex International, Inc.
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<div> <p style="margin-top:12px;margin-bottom:0px"><font style="font-family:Times New Roman" size="2"><b>Note 1. Nature of Operations</b></font></p> <p style="margin-top:6px;margin-bottom:0px"><font style="font-family:Times New Roman" size="2">Manitex International, Inc. (the &#x201C;Company&#x201D;) is a leading provider of engineered lifting solutions. The Company operates in two business segments, the Lifting Equipment segment and the Equipment Distribution segment.</font></p> <p style="margin-top:18px;margin-bottom:0px"><font style="font-family:Times New Roman" size="2"><i>Lifting Equipment Segment</i></font></p> <p style="margin-top:6px;margin-bottom:0px"><font style="font-family:Times New Roman" size="2">The Company designs, manufactures and distributes a diverse group of products that serve different functions and are used in a variety of industries. Through its Manitex, Inc. subsidiary it markets a comprehensive line of boom trucks and sign cranes. Manitex&#x2019;s boom trucks and crane products are primarily used for industrial projects, energy exploration and infrastructure development, including, roads, bridges and commercial construction. Its Badger Equipment Company subsidiary (&#x201C;Badger&#x201D;) is a manufacturer of specialized rough terrain cranes and material handling products. Badger primarily serves the needs of the construction, municipality, and railroad industries.</font></p> <p style="margin-top:12px;margin-bottom:0px"><font style="font-family:Times New Roman" size="2">The Manitex Liftking subsidiary sells a complete line of rough terrain forklifts, including the Liftking and Noble product lines, as well as special mission oriented vehicles, and other specialized carriers, heavy material handling transporters and steel mill equipment. Manitex Liftking&#x2019;s rough terrain forklifts are used in both commercial and military applications. Specialty mission oriented vehicles and specialized carriers are designed and built to meet the Company&#x2019;s unique customer needs and requirements. The Company&#x2019;s specialized lifting equipment has met the particular needs of customers in various industries that include utility, ship building and steel mill industries.</font></p> <p style="margin-top:12px;margin-bottom:0px"><font style="font-family:Times New Roman" size="2">The Manitex Load King, Inc. (&#x201C;Load King&#x201D;) subsidiary manufactures specialized custom trailers and hauling systems, typically used for transporting heavy equipment. Load King trailers serve niche markets in the commercial construction, railroad, military, and equipment rental industries through a dealer network.</font></p> <p style="margin-top:12px;margin-bottom:0px"><font style="font-family:Times New Roman" size="2">On July&#xA0;1, 2010, the Company&#x2019;s newly formed Italian subsidiary, CVS Ferrari, srl (&#x201C;CVS&#x201D;) entered into an agreement to rent certain assets of CVS SpA on an exclusive rental basis during the Italian bankruptcy process (concordato preventivo) of CVS SpA. CVS SpA is located near Milan, Italy, and designed and manufactured a range of reach stackers and associated lifting equipment for the global container handling market, which were sold through a broad dealer network. During the third quarter 2010, CVS Ferrari, srl commenced operations and used the rental assets in its operations. On June&#xA0;29, 2011, the Company entered into an agreement which was effective on July&#xA0;1, 2011 with CVS SpA in Liquidation to acquire the assets that were being rented. See Note 18 for further information.</font></p> <p style="margin-top:18px;margin-bottom:0px"><font style="font-family:Times New Roman" size="2"><i>Equipment Distribution Segment</i></font></p> <p style="margin-top:6px;margin-bottom:0px"><font style="font-family:Times New Roman" size="2">The Company&#x2019;s Crane&#xA0;&amp; Machinery Division, is a crane dealer that distributes Terex rough terrain and truck cranes, Manitex boom trucks and sky cranes. The division provides service in its local market and also supplies repair parts for a wide variety of medium to heavy duty construction equipment sold both domestically and internationally. The crane products are used primarily for infrastructure development and commercial constructions. Applications include road and bridge construction, general contracting, roofing, scrap handling and sign construction and maintenance.</font></p> <p style="margin-top:12px;margin-bottom:0px"><font style="font-family:Times New Roman" size="2">The Company believes that in the current environment, an option to purchase previously-owned equipment is a cost effective alternative that could increase customers return on investment. The Company&#x2019;s North American Equipment Exchange division (&#x201C;NAEE&#x201D;) markets previously owned construction and heavy equipment, domestically and internationally.&#xA0;The Division provides a wide range of used lifting and construction equipment of various ages and condition, and the Company has the capability to refurbish the equipment to the customers&#x2019; specification.</font></p> </div>
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Files In Submission

Name View Source Status
0001193125-12-462578-index-headers.html Edgar Link pending
0001193125-12-462578-index.html Edgar Link pending
0001193125-12-462578.txt Edgar Link pending
0001193125-12-462578-xbrl.zip Edgar Link pending
d413259d10q.htm Edgar Link pending
d413259dex311.htm Edgar Link pending
d413259dex312.htm Edgar Link pending
d413259dex321.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
mntx-20120930.xml Edgar Link completed
mntx-20120930.xsd Edgar Link pending
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mntx-20120930_def.xml Edgar Link unprocessable
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